Ultracab India Ltd approves preferential issue

The Board of Directors of Ultracab (India) Ltd at its meeting held on November 22, 2014, has approved the proposed issue of securities on preferential basis.

November 22, 2014 will be considered as relevant date for the price of the preferential Issue. The Offer Price of Preferential Allotment was decided as Rs. 40 per/share (Rs. 10 Face Value & Rs. 30 Premium) as per Clause 76 (2) of ICDR Regulation, 2009.

The Board will issue Letter of Offer and authorised Mr. Nitesh Vaghasiya - Managing Director and Mr. Pankaj Shingala - Director of the company be to carry out all formalities and acts required to be done for Preferential Issue.

Source : Equity Bulls

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